Nearterm Blog
Revenue Cycle Industry to See Changes in 2015
The New Year will be a year of changes for professionals in hospital revenue cycle, notes a new article from Healthcare Finance News. The biggest changes impacting the industry include the move from fee-for-service to population-based payment systems, as well as the possible implementation of ICD-10. According to the article, it will become critical for…
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Revenue Cycle Management Outsourcing Projected to Expand
Investment in revenue cycle management (RCM) outsourcing is set to expand at a compound annual growth rate of 7.2 percent through to 2019, according to a recent report from MicroMarket Monitor, a market research firm. The report, which examines North America’s revenue cycle management market, was prepared through “extensive primary and secondary research.” The report’s findings are…
Read MoreCMS UPDATE FOR HIM PROFESSIONALS
CMS UPDATE FOR HIM PROFESSIONALS Here is some great information and access to some useful resources via CMS: Latest News MLN Connects™ National Provider Call: Transitioning to ICD-10 Wednesday, November 5; 1:30-3pm ET To Register: Visit MLN Connects™ Upcoming Calls. Space may be limited, register early. HHS has issued a rule finalizing October 1,…
Read MoreJ.J. WATT QUOTE
I typically ignore the myriad of quotes and quips that saturate social media these days but this one caught my eye: “SUCCESS ISN’T OWNED, IT’S LEASED. AND THE RENT IS DUE EVERY DAY” Wouldn’t it be great if everyone embraced this wisdom? It applies to our personal lives as well as our professional lives. So…
Read MoreCMS OFFERS A DEAL
CMS OFFERS AN INCENTIVE TO SETTLE DISPUTED INPATIENT MEDICARE CLAIMS CMS and hospitals have historically been challenged to reach agreement on Medicare claims that have been suspended. The volume has increased dramatically resulting in processing backlogs and impasse. Here is a link to a recent CMS publication explaining the new “offering” to pay backlogged claims…
Read MoreRevenue Cycle DRP
REVENUE CYCLE DISASTER RECOVERY PLANNING (DRP) IS CRITICAL Most hospitals have highly detailed disaster plans that are mostly focused on direct patient care issues and that is absolutely the appropriate focus. However, we as revenue cycle professionals advocate the reminder that cash flow is a critical when disaster strikes. The following wikipedia link articulates DRP issues fairly…
Read MoreREVENUE CYCLE EMPLOYEE DRESS CODE
HOSPITAL DRESS CODE IS CHANGING Eric Chester has written a very interesting article on the topic of dress code. http://ericchester.com/2014/07/16/casual-friday-or-casual-everyday/ I found this article and many others written by Mr. Chester to be very informative and practical. If you are a healthcare leader in a provider organization, you know that our industry has unique dress…
Read MoreHospital Collection Practices
COLLETION LAWS THAT MAY PROVIDE POLICY GUIDANCE This is a very practical look at the laws that guide hospital collection practices. Are your policies and procedures compliant? (see below) http://www.consumer.ftc.gov/articles/0149-debt-collection If you have comments to share with colleagues about how you have designed collection protocols that are compliant and advantageous from a collection standpoint, please…
Read MoreHEALTHCARE CAREER TIP
Here is a quote from Mark Twain that you may find inspirational as you build your career, your life and your reputation; “YOU CANNOT BUILD YOUR REPUTATION ON WHAT YOU ARE GOING TO DO” Next time you have a moment of introspection about your image, consider that reputation is defined as the general estimation in…
Read MoreCODER INFORMATION
Coding professionals may find this site useful. It is the “official” source for up to date information. http://www.cms.gov/Medicare/Coding/ICD10/Latest_News.html Please feel free to contact us for all of your HIM resource needs! Jim Matthews jmatthews@nearterm.com
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